Manufactured Home Owner's Insurance Isn't Difficult To Buy

A manufactured home is any home built in one location, such as a factory or warehouse, and installed in another. A manufactured home includes modular homes, panelized homes, mobile homes and pre cut homes. Like any kind of home, a manufactured home should be covered by manufactured home owner's insurance policy. These policies are comparable to a traditional on site built home as long as the manufactured home is built according to HUD standards.

When your home is being moved to its permanent site, your home owner's policy usually will not cover any damage sustained during transport. It is wise, no matter how short the distance, to purchase trip collision insurance. This can be added on to your standard home owner's policy easily at a very nominal premium.

In today's market the term manufactured home is used instead of mobile home. Beginning in 1976 a mobile home was built according to HUD standards and became more permanent than mobile. Mobile homes are usually installed on a permanent foundation and are rarely mobile any more.

When choosing your manufactured home owner's insurance policy pay attention to the specifics of the policy. Since manufactured homes are more susceptible to certain weather events than a traditional on site built home, make sure the coverage is sufficient for your home and not an exclusion from your policy. You will want a comprehensive policy to cover replacement of a damaged unit rather than a percentage of damage coverage. Rates vary from company to company but not by a lot for the same coverage. One of the criteria for setting insurance rates is exposure to risk. Living in a high crime area or where certain weather events occur more often than others will influence your premiums and they will most likely be higher than other areas.

If your policy requires the home owner to perform certain preventative measures, be sure you do them such as installing tie downs to prevent the home from tipping over in high winds. If you do not and you make a claim, your claim may be denied because you didn't hold up your end of the bargain. Doing something today may be costly, but it will be more costly if your claim is denied and you have to foot that bill as well as your premiums.

Your manufactured home owner's insurance policy should include damage to your home by windstorm, fire, or some other defined event.; damage, destruction or theft of personal property; liability for damage non auto related as a result of your negligence to property and persons. If your manufactured home is financed, the lender may require a certain level of coverage.

A last few things when buying manufactured home owner's insurance: When filling out an application for home owner's insurance, answer the questions completely. Do not sign the application until all information is complete. Pay your premium by check and make the check out to the insurance company. Note the type of policy in the memo section of your check. If you are turned down for insurance, ask for the specific reasons.

MANUFACTURED HOME INSURANCE? (Answers: 2) (Comments: 2)

I own a home that my daughter lives in that is a manufactured home with an 11 course full basement. I can't find decent coverage for it. Rates have gone up 42.9% the last four years. Does anyone have a manufactured home that is insured and by what company?

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How can I find cheaper manufactured home insurance? (Answers: 5) (Comments: 0)

We pay about $6000 a year (!!!! yeah, I know!!) for our insurance and it doesn't cover contents, lanai or the pool. It's forced by the mort. co. because we couldn't find any. We've called brokers and no luck. Help!! Pasco County Florida, on 1.25 acres, no mh park.

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How can I find cheaper manufactured home insurance? (Answers: 2) (Comments: 0)

We pay about $6000 a year (!!!! yeah, I know!!) for our insurance and it doesn't cover contents, lanai or the pool. It's forced by the mort. co. because we couldn't find any. We've called brokers and no luck. Help!! Pasco County Florida, on 1.25 acres, no mh park.

Get the answers...